Industry associations have welcomed the Tamil Nadu Government’s support measures to encourage industrial investments in the southern districts and incentives to tiny, small and medium scale sector.
A Confederation of Indian Industry press release said the planned creation of new industrial parks across south Tamil Nadu will help tap the unutilised potential in southern districts.
CII said the initiatives announced by the Chief Minister J. Jayalalithaa in the Assembly on Tuesday will create thousands of jobs and reduce migration to cities with industrial parks proposed for a range of sectors like petroleum refinery, engineering, food processing and renewable energy.
Major boost
Measures to support tiny and MSME units including providing land at 50 per cent subsidy, creating 2,000-acre land bank, allowing land ownership after 30 years of lease, earmarking 20 per cent of area in industrial estates for mega industries to MSMEs, grants and subsidy for private sector industrial estates including Sidco taking a 10 per cent in the industrial estates will be a boost to the ailing small industries sector.
The Southern India Chamber of Commerce (SICCI) has welcomed the initiatives to encourage industrialisation of southern districts.
SICCI’s President Jawahar Vadivelu said in a press release that the chamber is confident that the roadmap for industrial growth and incentives will help economic and social development in the region.
The release said the plan to create a 6,000-acre industrial park to attract ship building and repair units in Tuticorin and the 1,500-acre renewable energy hub in Tirunelveli district will aid overall infrastructure growth.